InterWest Insurance Services

APRIL 27, 2023

A new report has found that small businesses that purchase their group health insurance online or through payroll vendors saw the largest premium hikes in 2022, significantly higher than those that went through brokers. Overall, more than half of SMB employees opt out of their employer-sponsored coverage.

Health Insurance 82

Health Insurance Insurance Out of Pocket Cost Deductible 82

WEX Inc.

AUGUST 2, 2023

A FSA is an account that allows you to set aside pre-tax funds to pay out-of-pocket healthcare costs. FSAs are an employer-owned account , and the IRS sets limits on annual FSA contributions. Employers can provide either a grace period to use the money within the plan year, or a carryover of up to $610 from the plan year.

Flexible Spending Account 98

Flexible Spending Account Deductible Deductions Health 98

Benefit Resource Inc.

MAY 2, 2023

As a result, many employers are in hyper-vigilance mode, anticipating the next recession and bracing themselves for a potentially difficult ride. In this climate, employers are considering a range of strategies to mitigate their financial risks in anticipation of a possible recession.

Employment 52

Employment Flexible Spending Account Benefits Package Healthcare 52

InterWest Insurance Services

AUGUST 5, 2022

As the 2023 group health open enrollment season nears, more employers have heard concerns among their staff and are focusing on affordability and easier access to health care services, according to a new study. The survey found that 70% of all large employers were planning benefit enhancements for 2023.

Health Insurance 94

Health Insurance Insurance Deductible Deductions 94

WEX Inc.

APRIL 12, 2023

Health saving accounts (HSAs) offer an excellent opportunity for participants to save money on healthcare expenses and for employers to support their employees’ wellness needs in a cost-efficient way. With employer-sponsored health plans, there’s fiduciary oversight. Follow DOL claims procedures.

Health Savings Account 52

Health Savings Account Deductible Deductions Flexible Spending Account 52

WEX Inc.

JANUARY 4, 2023

Health Savings Account (HSA) HSAs are individually owned accounts, so your HSA will stay with you no matter whether or how you qualify for COBRA. You are still eligible to participate and contribute to an HSA while on COBRA as long as: You’re enrolled in an HSA-eligible health plan (or high-deductible health plan ).

Employee Benefits 52

Employee Benefits Flexible Spending Account Health Savings Account Flexible Spending 52

WEX Inc.

JUNE 13, 2024

Limited medical FSA: Similar to a medical FSA, but can be paired with high-deductible health plans (HDHPs) and health savings accounts (HSAs) , covering dental and vision expenses. Combination FSA: A limited FSA that converts into a medical FSA once the IRS deductible is met. It is not legal or tax advice.

Flexible Spending Account 52

Flexible Spending Account Flexible Spending Health Savings Account Taxes 52

Griffin Benefits

JULY 30, 2021

With over half of today's workforce enrolled in high-deductible health plans (51%), a majority of insured individuals are now on the hook for deductibles of at least $1,400. In a future post, we'll offer tips on how to save money on common medical procedures. Please share this information with your workforce.

Medical 52

Medical Pharmaceutical Deductible Deductions 52

Business Management Daily

OCTOBER 15, 2020

Employers can expect health benefit costs to rise 4.4% on average in 2021, compared to 2020, according to early results from the Mercer consulting firm’s National Survey of Employer-Sponsored Health Plans 2020. Mercer based the projection on an analysis of 1,113 employer responses gathered since early July.

Health Savings Account 52

Health Savings Account Healthcare Life Insurance Insurance 52

Business Management Daily

NOVEMBER 15, 2021

Employers are constantly looking for ways to remain competitive in their benefits offerings, and an FSA is a great add-on to your benefits package. Flexible Spending Accounts allow employees to set aside pre-tax dollars from their paycheck to use for medical or dependent care expenses. Wherever you fall, we have answers for you.

Flexible Spending Account 98

Flexible Spending Account Flexible Spending Medical Healthcare 98

Business Management Daily

APRIL 25, 2024

Employers are required by law to provide certain benefits to employees. Beyond that, however, fringe benefits can help employers sweeten the deal and make work a better place to be. Employers can use this to their favor by distinguishing themselves as a desirable place to work. Consult an accountant as necessary.

Taxes 52

Taxes Retirement Plan Employee Stock Option Bonuses 52

WEX Inc.

JULY 20, 2023

Deductible options The words “health”, “coverage”, “insurance”, and “deductible” were among the most frequent words to appear when participants were asked in our survey what was missing from their benefits. Specific responses included: “A lower deductible or copay options would be an improvement.”

Deductible 75

Deductible Deductions Flexible Spending Account Health Savings Account 75

Benefit Resource Inc.

AUGUST 13, 2019

The term “high deductible health plan” has often carried with it a negative connotation for employees. According to a recent article from SHRM covering research from the Employees Benefit Research Institute (EBRI), enrollment in an HDHP promotes more conscious health care purchase decisions. Like this blog?

Deductible 45

Deductible Deductions Health Savings Account Employee Enrollments 45

Griffin Benefits

DECEMBER 30, 2022

On nearly the eve of its expiration, Congress has extended the ability of high deductible health plans (“HDHPs”) to offer first-dollar telehealth coverage through plan years beginning before January 1, 2025. The reporting presented significant challenges for employers and their service providers. BACKGROUND.

Deductible 81

Deductible Deductions Health Savings Account Taxes 81

Insperity

MARCH 12, 2024

In exchange for this benefit, employees give up their right to sue their employer over their work-related injury, regardless of which party is at fault. Many employers match their employees’ contributions to boost their savings. Most employers offer their employees PTO – usually between 10 to 14 days per year at minimum.

Family and Medical Leave Act 59

Family and Medical Leave Act Employee Benefits PTO 401(k) 59

Empuls

JULY 11, 2023

In the ever-evolving world of employment, organizations are increasingly focusing on enhancing employee satisfaction and well-being. tax free benefits are those that provide financial advantages for both employees and employers by avoiding certain taxes and deductions. Tax savings for employers.

Employee Benefits 40

Employee Benefits roth 401(k) Flexible Spending Account 401(k) 40

Empuls

AUGUST 27, 2024

Employer matching may make this more tantalizing, pushing the envelope of long-term feelings of financial well-being further for employees. All will reinforce career development and demonstrate an employer's investment in his or her employees' progress, making them more satisfied and likely to remain with the company over time.

Family and Medical Leave Act 40

Family and Medical Leave Act Employee Benefits 401(k) Benefits Package 40

WEX Inc.

FEBRUARY 2, 2023

trillion spending bill also extended a provision that provided relief to health savings account (HSA) participants. HSA-qualifying health plans may continue to cover telehealth services on a pre-deductible basis through 2024. This flexibility was first provided as part of the 2020 CARES Act.

Flexible Spending Account 52

Flexible Spending Account Flexible Spending Health Savings Account Taxes 52

WEX Inc.

JULY 24, 2023

And it’s a solution you might already be offering: the health savings account. These accounts provide another way for your employees to diversify their efforts to prepare for retirement. What employers are saying about employee finances and retirement? Can someone open an HSA without going through their employer?

Retirement Plan 98

Retirement Plan 401(k) Health Savings Account Taxes 98

InterWest Insurance Services

JANUARY 26, 2022

Mental health issues have come to the fore during the COVID-19 pandemic, spurring employers to expect their group health plans to do more for their workers in this area. Health care affordability also correlates to sacrifices in care, including mental health care. The Centivo report found that: S.

Out of Pocket Cost 93

Out of Pocket Cost Deductible Deductions Flexible Spending Account 93

Griffin Benefits

JUNE 27, 2022

Self-insured plans are also impacted, because though exempted from complying with state-mandated health care services, they must comply with state laws whenever reimbursing medical expenses incurred by plan participants. Shown below is a list of key issues employers should consider in response to this decision.

Employment 72

Employment Medical Taxes Health Savings Account 72

AssuredPartners

MARCH 8, 2017

The good news for many of our clients is that the Congress has listened to you and us as your brokers, consultants, agents and administrators. So, the tax exclusion for employer-provided plans remains in place. Individual mandate and Employer mandate taxes (penalties) will be eliminated.

Out of Pocket Cost 40

Out of Pocket Cost Health Savings Account Taxes Insurance 40